SPAIN: Grupo Siro posts revenue jump during 2013

Spanish food firm, Grupo Siro, has released its financial results for 2013, posting an annual revenue of EUR565m (EU777m), an increase of EU20m compared with last year.

EBITDA posted in at EUR87m.

The firm said it had sold 330,000 tons of products from its different units - biscuits, pasta, bread, cakes, pastries and cereal.

It had invested EUR11m in R&D during the year - almost 13% of its EBITDA.

Grupo Siro announced plans to invest a further EUR200m in the near future with an emphasis on R&D, improvement of facilities, energy efficiency and new production lines after securing long term credit of EU100m from the European Investment Bank.

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Grupo Siroinvoice 565 million euros in 2013

EBITDA amounted to 87 million euros and tons of product sold are 330,000

The commitment of the company in R + D + i is embodied in the 11 million euros invested in this area

Economic data have been presented in the context of the RAE, Annual Strategy Meeting, meeting which the proceedings have been revised in 2014 and future strategies in line with the Sustainable Social Commitment Company

Valladolid, April 2, 2014 - Grupo Siro today released economic data for the year 2013, as part of the Annual Strategy Meeting, organized every year with their middle managers. At this same meeting, have been highlighted future strategies in line with the Sustainable Social Commitment of the company.

During the past year Siro Group's turnover totaling EUR 565 million, representing an increase of more than 20 million euros compared to the previous billing year, and EBITDA of 87 million euros. In addition, in 2013 the European Investment Bank has granted long-term EUR 100 million line of credit. This appropriation reinforces confidence in the business model and growth strategy of the company and provides an impetus for the creation of wealth and employment through entrepreneurship.

It has sold 330,000 tons of products from different business units: biscuits, pasta, bread, cakes, pastries and cereal. In 2013, Grupo Siro has launched nearly a hundred new products. Of these, the Oatmeal Pancakes and Rice Bran Flakes Cookies Squire have been included by Kantar Worldpanel in the ranking of the 10 most innovative products of the year.

With regard to hiring data, Grupo Siro template amounts in 2013-3885 reviewers. Thanks to the commitment of the company to the people and their commitment to stable employment generation and quality, which has led to the creation this year a total of 191 new jobs. This growth has been accompanied by the largest customer of the Group, Mercadona.

Framed in Grupo Siro bet on innovation, in 2013, has made ??an investment of 11 millioneuros in R + D + i, almost 13% of its EBITDA. Thus, the Group works daily to i + dea, your private innovation center, become benchmark in both the development and innovation of products and processes and their industrial applications for the Agrifood Sector.

In addition to generating these positive figures, 2013 has served the company to reinvent itself in several areas, as reflected in the decision to be closer to the land and become farmers, with the planting of cereal in the province of Palencia, creating a Economic Financial Management, to better manage economic resources or the launch of the Strategic Plan 2014-2018 of people, in line with the commitment of Grupo Siro with his collaborators, among other actions.

Lines of Action for 2014

The lines of action of Grupo Siro for this year focus on innovation, efficiency and sustainability as foundations for continued growth and responding to the needs of all its stakeholders.

Grupo Siro within its Strategic Investment Plan plans to invest over 200 million euros in the coming years. Future investments are directed mainly to R & D, improvement of facilities, energy efficiency and new production lines at its production centers. For this, the company will have the credit long term granted by the European Investment Bank for 100 million euros.

These investments will allow Grupo Siro continue its growth as a result of accompanying plan Mercadona and maintain its business approach based on generating value to its stakeholders and the pursuit of excellence continues.

About Grupo Siro

Siro Group is a business group of the food sector, with 100% Spanish capital and whose goal is excellence based on efficiency and innovation from the perspective of sustainable social commitment. Its strategy is based on meeting the needs of all its stakeholders through long-term partnerships.

The Group is present in Spain in the business of biscuits, pasta, bread, cakes, pastries, cereals, and coproduct in R + D + i. In 2013 he sold 330 million kilos and has 22 work centers, in which nearly 4,000 people collaborate.

Grupo Siro has with Mercadona intersupplier agreement since 1998 as Tesco brand manufacturer. This agreement is based on trust and stability that have enabled face an investment of over 300 million euros in recent years, continue to grow and take on projects to provide the highest quality products at the best possible price to consumers.